Until relatively recently, the precious metal played a significant role in the American monetary system. From 1834 to 1933, the dollar was convertible into gold at the rate of $20.67 per ounce.

Critics have often said that the system is very difficult to navigate and the three bureaus that currently rule the American credit system are too powerful. According to reports, credit and ...

Campanella, Edoardo, and Meg Rithmire. "What Future for the Renminbi in the Global Monetary System?" Chap. 7 in U.S.-China Relations for the 2030s: Toward a Realistic Scenario for Coexistence, edited ...